All sources have been thoroughly verified for credibility. Furthermore, an industry specialist has reviewed and approved the final article.
Everything you need to know before buying real estate is included in our Serbia Property Pack
Thinking about buying a 3-bedroom apartment in Dorćol? It’s a great area in Belgrade, but you're probably wondering: is now the right time to buy, or should you wait for prices to drop?
And what about long-term investment—should you look into other neighborhoods like Vračar or Novi Beograd where property values might appreciate more over time?
In this article, we’ll answer these questions. We know this market quite well - and we have put all our knowledge in the Serbia Property Pack.
Will property prices increase in Serbia in 2025?
No, property prices in Serbia are not expected to rise significantly in 2025, due to a combination of economic challenges and market conditions.
Backed by our fresh, in-depth market analysis, we’re observing a cautious outlook for Serbia's real estate market, with several factors potentially hindering price growth.
While there are some positive indicators, the prevailing economic environment and market dynamics suggest a more tempered outlook for property prices in Serbia.
Signals pointing to a property price increase in Serbia
Here are some factors suggesting prices could increase:
The ongoing development of infrastructure projects, such as new highways and public transport improvements, is expected to enhance connectivity and accessibility, potentially boosting property values in certain regions.
Government initiatives aimed at attracting foreign investment and boosting economic growth could lead to increased demand for commercial and residential properties, particularly in urban centers.
A growing trend of urbanization, with more people moving to cities for better job opportunities, could increase demand for housing in urban areas, supporting property price growth.
Signals pointing to a property price decrease in Serbia
Here are some factors suggesting prices could fall:
Economic uncertainty and potential slowdowns in GDP growth could dampen consumer confidence and reduce the willingness of individuals to invest in property.
Rising interest rates could make borrowing more expensive, discouraging potential buyers and reducing demand for property purchases.
Inflationary pressures and increasing costs of living may strain household budgets, limiting the ability of individuals to afford new homes or invest in real estate.
A potential oversupply of new housing developments, particularly in certain urban areas, could lead to increased competition among sellers and downward pressure on prices.
The impact of global economic conditions, such as trade tensions or financial market volatility, could negatively affect Serbia's economy and, by extension, its real estate market.
Uncertainty regarding property regulations and potential changes in government policies could create hesitation among investors and buyers, impacting market dynamics.
A potential decrease in foreign investment due to geopolitical factors or changes in investor sentiment could reduce demand for high-end properties, affecting overall market prices.
Get fresh and reliable information about the market in Serbia
Don't base significant investment decisions on outdated data. Get updated and accurate information with our guide.
If property prices go up in Serbia, how much would they increase by?
If real estate prices in Serbia were to rise in 2025, the increase would likely be around 3% to 7% of their 2024 values.
Typically, real estate in emerging markets like Serbia appreciates by approximately 3% to 7% annually over the long term. However, fluctuations can occur depending on factors such as region, season, and property type.
It means that, if you spot a charming 2-bedroom apartment in Belgrade for 100,000 euros today, don't be surprised if it's priced between 103,000 and 107,000 euros this time next year.
To give you a better understanding, here is a table that shows 7 types of Serbian real estate properties, their estimated prices in 2024, and projections for 2025 based on potential price increases of 3%, 5%, and 7%.
| Type of Property | Average Price in 2024 (€) | Price in 2025 (3% increase) | Price in 2025 (5% increase) | Price in 2025 (7% increase) |
|---|---|---|---|---|
| Apartment in Belgrade (60 sqm / 646 sqft) | €100,000 | €103,000 | €105,000 | €107,000 |
| Modern Apartment in Novi Sad (75 sqm / 807 sqft) | €120,000 | €123,600 | €126,000 | €128,400 |
| Luxury Penthouse in Belgrade (100 sqm / 1,076 sqft) | €250,000 | €257,500 | €262,500 | €267,500 |
| Studio in Niš (30 sqm / 323 sqft) | €45,000 | €46,350 | €47,250 | €48,150 |
| Loft in Kragujevac (80 sqm / 861 sqft) | €160,000 | €164,800 | €168,000 | €171,200 |
| Townhouse in Subotica (150 sqm / 1,615 sqft) | €350,000 | €360,500 | €367,500 | €374,500 |
| Investment Property in Novi Sad (50 sqm / 538 sqft) | €75,000 | €77,250 | €78,750 | €80,250 |
Everything you need to know is included in our Property Pack for Serbia
If real estate prices go up in Serbia, which areas are likely to see the biggest increases?
Today, people who want to move to Serbia are looking for a blend of traditional charm and modern amenities, which Vračar in Belgrade offers. Hence, we could see a price increase there in 2025.
Also, lately, there's been a shift toward more youthful, vibrant neighborhoods, and Savamala has really taken off.
We like it when information is clear and easy to digest. So, here’s a table that highlights the areas where prices might rise the most, along with the reasons behind those expected increases. It’s very high-level. If you want more details on a specific area, please check our real estate pack tailored to the Serbian market.
| Neighborhood | Level of Increase | Why |
|---|---|---|
| Vračar | High | Recent development of luxury housing projects and its increasing appeal to international buyers as travel normalizes post-pandemic, driving demand. |
| Dorćol | High | Expected rise due to limited housing stock, upcoming renovations to heritage buildings, and growing demand for prime properties in central Belgrade. |
| Zemun | Medium-High | Ongoing gentrification and new transport links, along with several planned redevelopment projects in the area, are likely to push prices higher. |
| Novi Beograd | Medium | The shift towards hybrid workspaces is driving demand for residential properties near business districts, combined with new mixed-use developments. |
| Savski Venac | Medium-High | Eco-friendly urban projects and recent construction of new schools and parks are increasing its attractiveness for families, pushing prices upward. |
| Kalemegdan | Medium | Investment in local infrastructure, such as the extension of tram lines and renovation of historic areas, is boosting long-term value. |
| Savamala | High | Upcoming large-scale urban regeneration projects and improved public transport access are expected to make this area more desirable. |
| Novi Sad | Medium-High | Its proximity to Belgrade, along with new office and residential developments, makes it increasingly attractive to professionals seeking more space. |
| Palilula | Medium | Gentrification and cultural regeneration projects are attracting new residents, leading to rising prices as the area becomes more fashionable. |
| Dedinje | High | As new luxury developments are launched, demand for premium housing among wealthy buyers is expected to further increase property values. |
| Stari Grad | High | Upcoming restoration of historic sites and high-profile cultural projects are driving a renewed focus on this central, historic location. |
If I'm looking to invest in real estate, what types of properties should I focus on for the best value appreciation in Serbia?
In 2025, Serbia's real estate trends focus on tech-smart, energy-efficient apartments, larger suburban homes for families, properties with outdoor spaces, and eco-friendly buildings—all driving higher demand and prices. Here is a summary.
- Tech-Equipped and Energy-Efficient Apartments:
Driven by remote work and sustainability trends, these homes offer smart technology features and energy-saving systems. They cater to young professionals and tech workers, making them a hot commodity in 2025, especially in urban centers like Belgrade and Novi Sad.
- Family-Sized Apartments in Suburban Areas:
With a growing demand for larger living spaces, especially among families, suburban areas around Belgrade and other major cities are seeing increased interest. Proximity to green spaces, schools, and transportation links is a major factor driving value.
- Properties with Outdoor Spaces:
Post-pandemic, outdoor spaces like terraces, balconies, or gardens have become highly desirable. In dense urban areas, these features offer a much-needed escape and are likely to drive up property values.
- Eco-Friendly Buildings with Low Carbon Footprints:
Serbia's growing commitment to sustainability is boosting demand for eco-certified buildings. Buyers are increasingly valuing properties that align with the country's green goals, leading to price appreciation in this category.
Make a profitable investment in Serbia
Better information leads to better decisions. Save time and money. Download our guide.
